Free LLC Operating Agreement Template

1. Company Formation

The Company was formed as a limited liability company under the laws of [State].

2. Principal Office

The principal office of the Company shall be located at [Address]

3. Purpose

The purpose of the Company is to engage in any lawful business activity. Specifically, the Company's business purpose is: [Business Purpose]

4. Term

The Company shall continue until dissolved in accordance with the provisions of this Agreement or by operation of law.

5. Members and Ownership Interests

The Members of the Company and their respective ownership interests are as follows:

• [Member Name], [Address], [X]%

6. Capital Contributions

The Members have made or will make the following capital contributions to the Company:

• [Member Name]: $[Amount]

7. Management Structure

☑ Member-Managed LLC. The Company shall be managed by its Members, who shall have full authority to manage the business and affairs of the Company.

8. Voting Rights

Each Member shall have voting rights in proportion to their ownership interest in the Company. Major decisions shall require the approval of Members holding a majority of the ownership interests.

9. Profits, Losses, and Distributions

• Profits and losses shall be allocated among the Members in proportion to their ownership interests.
• Distributions shall be made to Members in proportion to their ownership interests, as determined by the Members or Managers.

10. Transfer of Membership Interests

No Member may transfer their membership interest without the prior written consent of a majority of the other Members.

11. Books, Records, and Accounting

The Company shall maintain complete and accurate books and records. The Company's accounting shall be maintained on a cash basis accounting method.

12. Dissolution

The Company may be dissolved upon the occurrence of any of the following events:

• Unanimous written consent of all Members
• Sale of all or substantially all of the Company's assets
• As required by applicable state law

Upon dissolution, the Company's assets shall be distributed in the following order:

• Payment of all debts and liabilities of the Company
• Return of capital contributions to Members
• Distribution of remaining assets to Members in proportion to their ownership interests

13. Indemnification

The Company shall indemnify and hold harmless each Member and Manager from and against any and all claims, damages, losses, and expenses arising from their service to the Company, except for acts of gross negligence or willful misconduct.

14. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of [State]

15. Amendments

This Agreement may be amended only by the written consent of Members holding a majority of the ownership interests.

16. Entire Agreement

This Agreement constitutes the entire agreement among the Members and supersedes all prior agreements and understandings relating to the subject matter hereof.

Signatures

Executed as of [Date]: